The day's market - January 31, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,442.83
Trade Time: Jan 30
Change: Down 37.47 (-0.30%)
Prev Close: 12,480.30
Open: 12,480.14
Day's Range: 12406.17 - 12681.41

After trading relatively weak for most of the session, the DJIA spiked up when the Federal Reserve Board cut interest rates by an additional 50 basis points to bring it down to 3.0%. It went straight up to advance by around 200 points at one point.
But as the S&P 500 touched a resistance level and news of downgrades on Bond Insurers came out; the US equities market gave back its gains. It once again fell below the 12,500 level and even closed lower.

PLDT (TEL) was up by an additional $1.22 to close at $74.20. Converting at PhP 40.50 to the dollar; it comes to around PhP 3005. It closed yesterday at PhP 2910.

time------------change----------PSEi
9:31----------down 1.94---------3254.59

Advancers 5 Decliners 12

9:32-----------up 2.16
9;33-------------13.04
9:34-------------14.60----------3271.13 (day's high)

TEL trades at PhP 3000.
Advancers 7 Decliners 14

9:35-------------8.31
9:36-------------4.89
9:37-------------3.27-----------3259.80

The markets now heads lower.

9:38--------down 2.83
9:39-------------4.83
9:42-------------6.94----------3249.59

The 3250 level is tested again today.

9:43--------down 4.79
9:44-------------5.03
9:45------------12.56----------3243.97

TEL down to PhP 2955.
Advancers 9 Decliners 36

9:47-------down 13.64
9:48-------------8.72
9:49------------11.54
9:50------------14.70
9:51------------15.31
9:54------------16.76
9:56------------18.52
9:59------------19.14
10:00-----------21.24

TEL at PhP 2940.
Advancers 12 Decliners 52

10:01------down 21.78-----------3234.75 (day's low)
10:02-----------18.67
10:04-----------19.15
10:06-----------19.81
10:07-----------20.46
10:08-----------21.25-----------3235.28
10:09-----------18.27
10:11-----------19.30
10:13-----------16.50
10:14-----------14.94
10:15-----------13.79
10:18-----------12.71

TEL at PhP 2970
Advancers 12 Decliners 64

10:20------down 11.96
10:29-----------15.69
10:31-----------11.55
10:33-----------10.29-----------3246.24
10:37-----------13.31
10:39-----------15.40
10:47-----------16.42
10:52-----------14.23

Advancers 13 Decliners 83

10:54------down 12.08
10:56------------7.94
10:47------------7.26
10:59------------5.90-----------3250.63

The PSEi moves to hurdle and stay above the 3250 level once more.

11:02-------down 5.28
11:03------------2.64
11:05------------6.99-----------3249.54

Advancers 19 Decliners 81

11:09------down 4.59
11:16-----------6.05
11:18-----------3.41
11:19-----------0.75
11:21-----------0.45------------3256.08

The market now struggles to move into positive territory.

11:25--------up 0.14
11:29------down 3.98
11:30-----------5.47
11:32-----------1.76
11:36-----------0.33
11:37--------up 0.27
11:38------down 0.69
11:39--------up 0.74
11:42-----------1.70-------------3258.23

Advancers 19 Decliners 81

11:43------down 1.28
11;45--------up 1.91
11:46-----------2.88
11:48-----------1.78
11:50-----------1.60
11:57-----------4.14
11:58-----------7.90
11:59-----------4.50
12:01-----------9.47------------3266.00(+0.29%)
Market Close.

Advancers 27
Decliners 82

Value turnover: PhP 4.890 bn
Cross transactions: PhP 2.127 bn

PLDT (TEL) alone accounted for a gain of 29.54 points in the Philippine Stock Exchange Index (PSEi. If not for its gains; the market would have ended lower. The broader market shows a lot more of losers than gainers.
This shows that there is still a sense of great uncertainty in the volatility in WallStreet. This has overshadowed the anticipated Fed rate cut and the news that the Philippine 4th QTR GDP was up by 7.4%(the fastest quarterly pace of growth in 31 years. The much hoped month-end window dressing was also non-existent.

Sectoral Indices.
Services +2.67%
Industrial +1.08%
Property 0.00%
Holdings -0.67%
M-O -1.52%
Financial -4.24%

The Day's Top Gainers:
ABS: PhP 29.00; +13.73%
FDC: PhP 4.50; +11.11%
FEU: PhP 900.00; +8.43%

The Day's Biggest Decliners:
JOH: PhP 1.02; -27.14%
BPC: PhP 2.65; -8.62%
MBT: PhP 40.00; -8.05%

The day's market - January 30, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary

Index Value: 12,480.30
Trade Time: Jan 29
Change: UP 96.41 (+0.78%)
Prev Close: 12,383.89
Open: 12,385.19
Day's Range: 12346.99 - 12503.15

The DJIA tests the 12500 level again. Investors and analyst expect a new interest rate cut after the FED meeting.

PLDT (TEL) ADRs (American Depository Receipts) closed higher by $3.00 to close at $72.98. Converting at PhP 40.58 to the US$; this is around PhP 2960. The company approved a buyback program of approximately 2 million shares comprising about 1.1% of the company's total outstanding common shares. Based on yesterday's closing price of PhP 2810, it would amount to about PhP 5.6 bn.

PSEi previous close - 3224.24 (January 29, 2008)

time------------up------------PSEi
9:31-----------58.41----------3282.65

TEL opened at PhP 2950.
Advancers 15 Decliner 1

9:32-----------59.07
9:33-----------61.10
9:34-----------67.51
9:35-----------68.94
9:36-----------70.17

PhP 40.586 vs US$ 1.00

9:37-----------73.88---------3298.12 (the day's high)

The 3300 level was tested and proves to be a resistance. The market retreats after a very steep rise in the first few minutes of trading.
Advancers 26 Decliners 6

9:39-----------71.59
9:45-----------70.19
9:46-----------67.76

9:47-----------72.12
9:48-----------68.85
9:49-----------65.35

Advancers 40 Decliners 12
TEL at PhP 2950.

9:51-----------68.40
9:53-----------64.62
9:57-----------62.22
10:00----------59.36

The number of decliners start to increase despite the day's advance.
Advancers 38 Decliners 17

10:01----------57.62
10:02----------56.18
10:03----------52.41
10:07----------51.76

PhP 40.585 vs US$ 1.00
TEL at PhP 2930.
Advancers 37 Decliners 26

10:08----------50.32
10:09----------47.61
10:10----------45.38---------3269.62

10:11----------44.84
10:13----------44.31
10:14----------42.75
10:15----------41.60
10:17----------41.20
10:18----------39.65---------3263.89

TEL at PhP 2910
Advancers 35 Decliners 33

10:21----------38.11
10:26----------37.31---------3261.55

TEL at PhP 2905
Advancers 33 Decliners 38. Losers now outnumber gainers.

10:29----------35.51
10:33----------35.48
10:38----------35.09
10:43----------34.53
10:44----------32.97
10:45----------32.09
10:49----------31.22
10:51----------30.70
10:56----------29.08
10:58----------28.66---------3252.90

The market tests and tries to hold at the 3250 level.
Advancers 33 Decliners 58.


10:59---------30.21
11:01---------35.74
11:08---------38.39

PhP 40.607 vs US$ 1.00

11:09---------39.42----------3264.96
11:10---------33.02
11:11---------32.20----------3256.44
11:15---------34.64
11:16---------36.53
11:18---------37.06
11:21---------38.21----------3262.45

TEL at PhP 2925

11:23---------37.87
11:24---------36.56
11:25---------35.89
11:28---------33.34
11:31---------33.10
11:32---------31.67
11:33---------31.02
11:35---------30.62----------3254.86

Advancers 30 Decliners 77
TEL at PhP 2915

11:39---------33.61
11:43---------30.49

PhP 40.613 vs US$ 1.00

11:44---------30.06
11:45---------27.10
11:46---------24.73----------3248.97

The 3250 level is tested once again in the final minutes of the trading session.
Advancers 32 Decliners 83
TEL at PhP 2910

11:48---------26.49----------3250.73
11:49---------28.38
11:53---------28.94
11:54---------26.35
11:55---------25.27
11:56---------22.04-----------3246.28
11:58---------26.11
11:59---------29.22
12:01---------32.29-----------3256.53 (+1.00%)
Market Close.

Advancers 37
Decliners 75

Value turnover: PhP 3.324 bn
Cross transactions: PhP 1.474 bn

Sectoral Indices.
Services +2.29%
Holdings +1.04%
Property +0.14%
Industrial -0.03%
Financial -0.54%
M-O -1.10%

The Day's Top Gainers:
LIHC: PhP 14.00; +19.15%
BRN: PhP 4.05; +14.08%
BC: PhP 28.50; +7.55%

The Day's Biggest Decliners:
LSC: PhP 1.28; -12.33%
MAB: PhP 0.022; -12.00%
ABS: PHP 25.50; -10.53%

The day's market - January 29, 2008

Comment on Yesterday's trading:
Manila Bulletin - January 29, 2008

BusinessWorld - January 29, 2008


DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,383.89
Trade Time: Jan 28
Change: Up 176.72 (+1.45%)
Prev Close: 12,207.17
Open: 12,205.71
Day's Range: 12112.14 - 12386.01

After a slow start, the DJIA recovered and advanced steadily. It firmed up its gains and closed near its high.

PLDT (TEL) ADRs were higher by $2.40 and closed at $69.98. Converting at PhP 40.71 vs the US$, it comes to around PhP 2850. Yesterday it closed at PhP 2775.

Gold was up by $16.60 to close at $925.30 - 925.80 an ounce.

The local equities market once again took its cue from WallStreet and rebounded from yesterday's decline.

PSEi previous close - 3203.56 (January 28, 2008)

time------------up-------------PSEi
9:31-----------19.97-----------3223.53

Advancers 27 Decliner 1
TEL opened at PhP 2800

9:32-----------29.40
9:33-----------31.12
9:34-----------35.86
9:35-----------35.93
9:36-----------38.57----------3242.13

Asian markets were up today.
PhP 40.717 vs US$ 1.00

9:41-----------38.95

Advancers 51 Decliners 4

9:42-----------41.13
9:43-----------43.68
9:44-----------46.57----------3250.13

The 3250 level resistance was tested ....and broken.

9:45-----------59.68

TEL at PhP 2850.

9;52-----------61.00
9:53-----------62.49
9:54-----------63.92---------3267.48 (day's high)

9:57-----------59.78
10:03----------56.67
10:05----------58.03
10:07----------55.63

PhP 40.716 vs US$ 1.00

10:10----------58.03
10:17----------59.29
10:23----------54.63
10:26----------51.89
10:28----------49.77
10:30----------44.74---------3248.30

The market moves below the 3250 level once again and gives back most of its gains.

10:30----------43.80
10:33----------40.69
10:34----------39.30
10:35----------38.89
10:39----------37.64
10:41----------37.18
10:43----------35.42
10:46----------34.53
10:51----------33.91
10:52----------32.87
10:53----------30.23
10:54----------29.93
10:55----------28.68
10:57----------26.96
10:59----------25.39
11:01----------24.79---------3228.35
11:03----------27.35

Advancers 54 Decliners 32
TEL back at PhP 2805

11:08----------25.94
11:18----------25.13
11:21----------23.24
11:28----------25.59
11:28----------24.97

11:29----------18.82
11:31----------18.15
11:40----------17.58-----------3221.14

11;41----------19.98
11:42----------20.28

11;43----------15.18
11:44----------14.29
11:45----------13.49-----------3217.05

11:47----------16.28
11:50----------14.28
11:51----------13.75
11:53----------13.40-----------3216.96
11:54----------15.74
11:55----------14.60
11:56----------17.58
11:57----------18.10
11:58----------18.63
11:59----------19.10
12:01----------20.68-----------3224.24 (+0.65%)
Market close.

Advancers 46
Decliners 55

A new chart gap at the 3212-3216 levels was opened today. The PSEi is now above the 10 day moving average. If the 3170-3200 level holds and proves to be a strong support, the 3350-3400 level will be a likely target. The 3250-3270 is the immediate resistance.

Sectoral Indices
Financial +1.46%
Holdings +1.32%
Services +0.66%
M-O +0.47%
Industrial +0.15%
Property -0.88%

The Day's Top Gainers:
MUSX: PhP 0.29; +52.63%
EIBA: PhP 0.35; +16.67%
ATN: PhP 2.24; +9.80%

***MUSX recently underwent a quasi-reorganization. Its par value was reduced to PhP 0.10 from PhP 1.00. Correspondingly, the number of shares held by investors was increased by a multiple of 7.
From a last trade of PhP 1.94 before it went on a voluntary suspension of trading in its shares; the previous close was adjusted to PhP 0.19 (decreased by ten times just like the reduction in its par value.) But since the number of shares was increase by only a multiple of 7, the "break-even" point is at PhP 0.277


The Day's Biggest Decliners:
BCB: PhP 30.00; -20.00%
FED: PhP 7.20; -20.00%
JTH: PhP 2.30; -14.81%

The day's market - January 28, 2008

Market comments last Friday
BusinessWorld - January 28, 2008


With the drop in WallStreet on Friday, the local equities market underwent a correction after its advances the past three trading day's last week.

PSEi previous close - 3237.41 (January 25, 2008)

time--------------down-----------PSEi
9:31-------------24.67----------3212.74

Advancers 7 Decliners 26

9:32-------------25.07
9:33-------------25.52
9:34-------------26.05
9:34-------------29.10
9:35-------------31.54-----------3205.87

PhP 40.864 vs US$ 1.00

9:38-------------32.85
9:39-------------33.89
9:40-------------36.02-----------3201.39
9:41-------------37.49-----------3199.92

Advancers 9 decliners 35
The 3200 level was broken and the market continues to head lower.

9:42-------------40.13
9:43-------------41.89
9:46-------------48.69
9:48-------------49.03
9:49-------------51.82
9:50-------------52.50
9:51-------------53.98
9:52-------------54.04
9:53-------------55.60---------3181.81

Advancers 16 Decliners 46
PLDT (TEL) trading at PhP 2760 from a previous close of PhP 2800.

9:54-------------58.65
9:55-------------59.61
9:59-------------60.09
10:00------------61.52
10:02------------62.05
10:04------------62.15
10:05------------63.77
10:13------------64.30----------3173.11 (day's low)

Advancers 10 Decliners 59
PhP 40.856 vs US$ 1.00
The chart gap opened last week (January 24-25, 2008) at the 3170 level was almost closed and served as a support.

10:21------------62.65
10:23------------61.34
10:25------------59.71
10:34------------57.22-----------3180.19

The PSEi goes above the 3180 level.

10:35------------56.07
10:36------------55.40
10:38------------52.37------------3185.04

PhP 40.884 vs US$ 1.00

10:43------------54.14
10:47------------54.93
10:49------------55.73
10:57------------57.64------------3179.77

The market tests the 3180 level again and manages to hold above it. It limits its losses in the final hour of the trading day.

10:58------------53.92
11:01------------51.24
11:02------------50.97
11:04------------48.84

11:05------------52.98
11:15------------53.61------------3183.80

PhP 40.887 vs US$ 1.00

11:22------------52.74
11:25------------51.56
11:26------------50.51
11:28------------46.72
11:31------------45.58
11:35------------43.16
11:37------------44.28
11:42------------44.95

PhP 40.887 vs US$ 1.00

11:44------------38.65-----------3198.76

The 3200 level is tested.

11:45------------39.25
11:48------------43.67
11:52------------44.25-----------3193.16
11:56------------42.38
11:57------------41.12
11:58------------43.67
11:59------------33.45
12:01------------33.85-----------3203.56 (-1.05%)
Market Close.

Advancers 20
Decliners 77

Value turnover: PhP 2.390 bn
Cross transactions: PhP 1.110 bn

Sectoral Indices retreated across-the-board.
Holdings -2.08%
Industrial -1.16%
Financial -0.94%
Services -0.91%
M-O -0.88%
Property -0.37%

The Day's Top Gainers:
VITA: PhP 0.35; +25.00%
ETEL: PhP 330.00; +10.00%
BCP: phP 96.50; +9.66%

The Day's Biggest Decliners:
PNC: PhP 3.90; -25.00%
JTH: PhP 2.70; -22.86%
ABA: PhP 0.0085; -10.53%

The day's market - January 2, 2008

Trading in WallStreet - January 25,2008

DOW JONES INDUSTRIAL AVERAGE(DJIA) summary
Index Value: 12,207.17
Trade Time: Jan 25
Change: Down 171.44 (-1.38%)
Prev Close: 12,378.61
Open: 12,391.70
Day's Range: 12183.68 - 12486.89

Trading volatility continues in WallStreet. The day's trading range was more than 300 points. The DJIA tried to challenge the 12500 level early on but its rally lost steam. It then declined for most of the trading session to close near its day's low.

The day's market - January 25, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,378.61
Trade Time: Jan 24
Change: Up 108.44 (+0.88%)
Prev Close: 12,270.17
Open: 12,272.69
Day's Range: 12241.80 - 12399.18

WallStreet was able to maintain consolidate its gains. It advanced further and managed to close near it high. PLDT (TEL) ADRs traded higher by $4.10 and closed at $67.11. Converting at a rate of PhP 41.00 to the US$; it comes out to PhP 2750. TEL closed at PhP 2670 yesterday.

Gold was up by $28.70 to trade at $908.40-$908.90

PSEi previous close - 3147.42 (January 24, 2008)

time-------------up------------PSEi
9:31------------56.92---------3204.34

Another gap was opened with the immediate jump in the local equities market. It broke the 3200 level at once.
TEL opened at PhP 2800.
Advancers 37 Decliner 1

9:32------------57.50
9:33------------59.44
9:34------------61.88
9:35------------62.72
9:36------------63.01----------3210.43

PhP 41.016 vs US$ 1.00

9:37------------69.49
9:38------------77.04
9:41------------77.27
9:42------------77.94----------3225.36

Advancers 56 Decliners 6

9:43------------80.23
9:44------------82.23
9:46------------86.15
9:48------------87.56
9:50------------88.22
9:55------------89.93----------3237.35

A minor correction ensues.

9:57------------89.56
10:02-----------87.85
10:05-----------85.38
10:06-----------84.03

PhP 41.008 vs US$ 1.00

10:07-----------82.47
10:13-----------80.54
10:15-----------77.02
10:23-----------76.55
10:25-----------75.89
10:26-----------74.80----------3222.22

The PSEi firms up again and consolidates its gains.

10:29-----------76.58
10:31-----------77.58
10:35-----------78.12
10:40-----------78.99

PhP 41.005 vs US$ 1.00
Asian markets were up at this point.

10:52----------80.14
10:59----------81.52
11:00----------82.41
11:01----------83.96
11:02----------88.62
11:03----------92.76-----------3240.18
11:06----------87.53

PhP 41.001 vs US$ 1.00

11:07----------85.58
11:12----------87.78
11:13----------84.71
11:15----------83.46
11:19----------88.06
11:22----------90.33
11:23----------92.93
11:29----------94.81
11:30----------95.18-----------3242.60
11:37----------91.77
11:39----------88.28
11:44----------92.39
11:45----------93.41
11:50----------90.78
11:53----------89.47
11:55----------90.96
11:56----------91.85
11:57----------92.39
11:58----------90.84
11:59----------96.18-----------3243.60 (day's high)
12:01----------89.99-----------3237.41 (+2.86%)
Market Close.

Advancers 79
Decliners 30

Value turnover: PhP 4.050 bn
Cross transactions: PhP 1.128 bn

The PSEi reached the upper limit of the target resistance at the 3239 level and is also now at the 10 day moving average.

Sectoral Indices again advanced across-the-aboard.
Services +4.72%
Holdings +2.21%
Industrial +1.97%
Financial +1.67%
M-O +1.39%
Property +0.87%

The Day's Top Gainers:
PNC: PhP 5.20; +42.47%
BCP: PhP 88.00; +27.54%
BCB: PhP 38.00; +24.59%
BC: PhP 30.50; +22.00%
KEP: PhP 2.10; +16.67%

The Day's Biggest Decliners:
CEU: PhP 6.00; -40.00%
PAX: PhP 3.80; -24.00%
LAND: PhP 1.60; -20.00%
VITA: PhP 0.28; -17.65%
EIBA: PhP 0.30; -14.29%

The day's market - January 24, 2008

The big turn-around in WallStreet boosted the local equities market. The Philippine Stock Exchange Index (PSEi) jumped from the opening bell.

PSEi previous close - 3058.26 (Januatry 23, 2007)

time--------------up-----------PSEi
9:31------------62.86---------3121.12

The target at the 3121-3129 levels was immediately hit.

9:32------------68.56
9:33------------74.76
9:34------------79.56
9:38------------81.50
9:42------------82.55
9:43------------83.30---------3141.56

Advancers 71 Decliner 1

9:44------------84.87
9:48------------93.88
9:49------------95.36
9:52------------96.03---------3154.29

9:53------------91.82---------3150.08

The 3150 level is tested and breached.

9:56------------95.76
9:58------------96.16
9:59------------97.88
10:00----------100.54
10:00----------101.29---------3159.55

The PSEi consolidates in a narrow range at around the 3160-3170 levels for the next hour.

10:04----------106.93---------3165.19
10:05----------101.24
10:06----------102.99

PhP 41.078 vs US$ 1.00

10:07----------103.63
10:08----------100.77
10:10-----------99.84---------3158.10
10:16----------103.19
10:17----------106.35
10:21----------109.21--------3167.47
10:23----------107.10
10:26----------106.77
10;28----------108.48
10:29----------112.22--------3170.48 (day's high)
10:31----------106.71

Advancers 103 Decliners 10

10:39----------104.65
10:41----------108.46
10:47----------107.34
10:48----------105.94

Advancers 104 Decliners 14

10:49----------109.78
10:51----------111.51--------3169.77

10:54----------108.96
10:56----------104.87
10:58-----------98.90--------3157.16

Advancers 102 Decliners 14

10:59----------105.58

Profit taking in the final hour of the trading session pares down the day's gains.

11:01----------100.26
11:05-----------99.67
11:09-----------95.86
11:01----------100.82---------3159.08
11:12-----------96.68
11:18-----------95.10
11:19-----------94.89
11:24-----------94.04
11:25-----------92.56
11:26-----------91.61---------3149.87

11:28-----------95.00
11:29-----------92.62
11:30-----------90.56
11:32-----------89.28
11:33-----------88.48

Advancers 90 Decliners 23

11:37-----------87.96
11:38-----------86.93
11:43-----------85.34----------3143.60

11:47-----------87.04
11:50-----------90.73
11:52-----------93.23----------3151.49
11:54-----------89.26
11:58-----------88.10
11:59-----------90.31
12:01-----------89.16----------3147.42 (+2.92%)
Market Close.

Advancers 101
Decliners 24

A strong advance in WallStreet may carry the market towards the next target at the 3196-3239 chart gap opened last January 17-18, 2008.
The PSEi is trying to repeat the recovery it made in the next days after it hit the 2874 low in August 17, 2007.
The local equities market is still prone to bouts of profit taking.

Value turnover: PhP 4.997 bn
Cross transactions: PhP 2.191 bn

The Day's Top Gainers:
AAA: PhP 0.42; +50.00%
BCP: PhP 69.00; +27.78%
BC: PhP 25.00; +23.46%

The Day's Biggest Decliners:
JTH: PhP 3.75; -17.58%
KEP: PhP 1.80; -10.00%
MAB: PhP 0.025; -7.41%

Trading in WallStreet - January 23, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,270.17
Trade Time: January 23
Change: Up 298.98 (+2.50%)
Prev Close: 11,971.19
Open: 11,969.08
Day's Range: 11644.81 - 12276.67

The DJIA experienced another extremely volatile day as it traded within a whopping 630 point range. It opened down as the Dow Futures traded lower in the day. It stayed in negative territory with triple digit declines for the first half of the trading day.
In the afternoon session however, the US equities market mounted a huge rally as it advanced steeply from near its day's low levels and then closed near its high. The turnaround is a big confidence booster to investors and enabled the DJIA to break above the 12,000 level convincingly.

The day's market - January 23, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA)summary
Index Value: 11,971.19
Trade Time: January 22
Change: Down 128.11 (-1.06%)
Prev Close: 12,099.30
Open: 12,092.72
Day's Range: 11634.82 - 12092.72

The US Federal Reserve Board had an emergency rate cut of 0.75% to try and arrest the declining global equities markets. This aggressive move was announced just before the US markets opened for trading.

The Dow Futures traded lower by more than 500 points earlier in the day so when WallStreet opened, the US equities market immediately fell more than 460 points. It then slowly recovered as the news of the Fed Rate Cut (which brought interest rates down to 3.50%) was slowly digested by the markets. It was able to limit its losses to close just below the 12,000 level.

PLDT (TEL) was down by $2.20 and closed at $65.38. Converting at the rate of PhP 41.30 to the US$; its comes to around PhP 2700. It closed at PhP 2565 yesterday.

Gold traded at around the $890.00 an ounce.

The recovery in WallStreet brought immediate relief to the local equities market and confidence to investors. Sentiment was already up during the pre posting period.

PSEi previous close - 2978.41 (January 22,1970)

time--------------up------------PSEi
9:31-------------1.69----------2980.10

Advancers 45 Decliners 3

9:32-----------88.64-----------3067.05
9:33-----------97.00
9:34----------100.69
9:35----------106.35-----------3084.76

PhP 41.300 vs US$ 1.00

9:36----------102.15
9:37----------107.65
9:39----------110.82
9:43----------112.10
9:44----------113.86
9:45----------115.54
9:46----------115.64-----------3094.05 (day's high)

Thge Philippine Stock Exchange Index (PSEi) peaked near the 3100 level for the day.

9:48----------107.50
9:50----------110.22
9:52----------105.40
9:53----------102.41
9:59----------102.07

The market tries to hold on to its gains in the next half hour or so. It consolidates at around the 3080 level.

10:00---------101.13----------3079.54
10:02---------103.00
10:04---------107.02
10:05---------108.10

PhP 41.291 vs US$ 1.00

10:07---------110.00-----------3088.41
10:10---------105.69
10:14---------105.72
10:18---------107.78
10:19---------109.05
10:23---------109.63
10:27---------104.26
10:36---------105.87

Some investors now chose to take in profits in the second half of the trading session and the market moves lower.

10:39---------101.53-----------3079.94
10:40---------100.89
10:44----------98.00
10:45----------96.45
10:46----------95.56
10:55----------93.77
10:59----------92.61
11:04----------90.13
11:08----------87.49
11:12----------86.16

PhP 41.283 vs US$ 1.00
Asian equities markets were mostly up at this point.

11:13----------84.45-----------3062.86
11:19----------86.08
11:22----------88.92
11:31----------84.28
11:32----------83.64
11:35----------81.57
11:37----------79.73

PhP 41.290 vs US$ 1.00

11:39----------76.53
11:39----------75.38
11:40----------72.78-----------3051.19

The 3050 level was tested as a possible support.
TEL at PhP 2585.
Advancers 104 Decliners 22

11:42----------66.69------------3045.10
11:49----------70.01
11:50----------74.50------------3052.91

The PSEi manages to stay above the 3050 level.

11:54----------75.15
11:55----------76.40
11:58----------82.00
11:59----------85.24
12:01----------79.85-------------3058.26 (+2.68%)
Market Close.

Advancers 107
Decliners 24

A strong rally in WallStreet that breaks the 12,000 level convincingly will again boost investor sentiment in the Philippine Stock market. The next resistance is pegged at the 3100 level and the likely target is the 3121-3129 chart gap left open by yesterday's immediate drop.

Value turnover: PhP 4.507 bn
Cross transactions: PhP 1.552 bn

Sectoral Indices rebounded across-the-board.
M-O +6.18%
Property +4.48%
Holdings +3.04%
Industrial +2.94%
Financial +2.02%
Services +0.96%

The Day's Top Gainers:
BCP :PhP 54.00; +33.33%
ZHI: PhP 0.35; +25.00%
DIZ: PhP 4.90; +19.51%

The Day's Biggest Decliners:
LSC: PhP 1.30; -17.72%
PAL: PhP 5.10; -15.00%
APR: PhP 2.00; -9.09%

The day's market - January 22, 2008

WallStreet was closed for a holiday but this morning the Dow Futures was trading lower by more than 500 points.
A Global selloff was seen as equities markets around the world declined. Japan is at a two and a half year low and Australia is in a bear market.
Gold is below the $860 an ounce level. Crude is also at five weeks low on recession worries.
It was a perfect recipe for panic.

PSEi previous close - 3152.30 (January 21, 2008)

time----------down------------PSEi
9:31-----------30.72----------3121.58

Advancer 0 Decliners 70
Stock--------open----------previous close
TEL--------PhP 2740-----PhP 2770
ALI------------13.25---------14.00
AC------------437.50--------445.00
SMPH----------8.40----------9.10
MER-----------68.50---------71.50
PCOR------------4.75----------5.00

9:32-----------99.07----------3053.23
9:33----------113.15----------3039.15

Advancer 0 Decliners 77

TEL at PhP 2700; AC at PhP 432.50

9:34----------121.77---------3030.53

The 3050 level is immediately broken and the 3030 level tries to hold.

9:35----------112.95

PhP 41.527 vs US$ 1.00

9:37----------111.13
9:38----------113.74
9:42----------105.40
9:45----------108.83
9:46----------110.76
9:49----------106.62
9:52----------102.67
9:54----------100.85----------3051.85

The PSEi tries to go over the 3050 level (....but fails)

9:57----------102.81
9:59----------104.26
10:02---------106.36

Advancers 2 Decliners 100

10:06---------107.13
10:08---------112.35
10:09---------113.84
10:10---------117.25
10:14---------118.60
10:16---------121.66
10:20---------122.13---------3030.17

The 3030 level also breaks.

10:22---------123.75
10:23---------124.54
10:25---------124.87
10:27---------125.24
10:28---------127.13
10:29---------128.10
10:30---------130.61
10:34---------131.24
10:35---------132.79
10:36---------134.12
10:41---------137.10

PhP 41.508 vs US$ 1.00

10:45---------140.61
10:47---------143.00
10:51---------143.79
10:54---------144.65
10:55---------145.71---------3006.59 (-4.62%)

Advancers 4 Decliners 130

10:57---------146.35
10:59---------146.80
11:00---------149.61
11:01---------152.22---------3000.08

The key 3000 index level is tested (....and also does not hold)

11:03---------155.44
11:05---------156.92---------2995.38

The chart gap at the 2996-3019 left open since August 17-21 2007, is closed.

11:06---------160.27

Another wave of selling sweeps the market as investors panic some more with the break of the 3000 level.

11:07-------166.86
11:08-------170.22
11:09-------176.82
11:11-------180.03
11:14-------180.60
11:15-------182.73
11:16-------183.54
11:18-------185.69
11:20-------187.62
11:21-------191.33
11:27-------193.60
11:28-------198.37-----------2953.93 (day's low)

TEL at PhP 2540 after briefly touching a low at PhP 2520.

11:30-------191.67
11:31-------189.89
11:40-------186.53

PhP 41.484 vs US$ 1.00
Asian markets are steeply down at this point.

11:42-------183.67
11:43-------182.82
11:47-------180.54
11:51-------175.00-----------2977.30

TEL at PhP 2580

11:54-------174.64
11:58-------173.69
11:59-------169.45
12:01-------173.89-----------2978.41 (-5.52%)
Market Close.

Advancers 6
Decliners 150

The next support is at 2874; the low touched last August 17,2007. Negative outlook on the global equities market has the PSEi in a double bottom formation.

Value turnover: PhP 4.370 bn
Cross transactions: PhP 1.524 bn
Block sales: 25,916,519 shares of MER at phP 80.91 worth around PhP 2,096,905,552

Stock--------close
TEL------PhP 2565.00
ALI---------------13.25
AC---------------442.50
SMPH-------------8.80
MER--------------70.00
PCOR--------------4.75

Sectoral Indices.
M-O -11.07%
Services -7.27%
Property -6.81%
Holdings -4.40%
Industrial -4.15%
Financial -2.65%

The Day's Top Gainers:
BCP: PhP 40.50; +35.00%
PAL: PhP 6.00; +13.21:
JFC: PhP 44.50; 2.30%

The Day's Biggest Ten Decliners:
MHC: PhP 0.28; -30.00%
APR: PhP 2.20; -29.03%
IS: PhP 0.0975; -27.78%
DIZ: PhP 4.10; -26.79%
BKD: PhP 1.10; -26.67%
PA: PhP 0.10; -25.93%
ATN: PhP 1.80; -21.74%
NI: PhP 11.00; -21.43%
EVER: PhP 0.16; -20.00%
PHES: PhP 0.24; -20.00%

The day's market - January 21, 2008

PSEi previous close - 3168.30 (January 18, 2007)

The local equities market consolidated with a downward bias at the 3150 level. Sentiment remains very cautious.

time-----------down-------------PSEi
9:31----------10.21-----------3158.09

Advancers 4 Decliners 7

9:32----------17.31-----------3150.99

The 3150 level is tested.

9:33----------14.60
9:34----------16.03
9:35----------18.78------------3149.52
9:37----------17.28

PhP 40.964 vs US$ 1.00

9:38----------14.77
9:39----------13.34

9:40----------17.10
9:44----------11.10
9:45-----------9.21
9:46-----------8.77------------3159.53

9:50----------11.14
9:51----------13.78
9:55----------12.35
9:56----------16.39
10:02---------16.90------------3151.40

10:03---------18.62------------3149.68

The 3150 level fails to hold and the market resumes its decline

10:04---------19.21
10:07---------19.58
10:07---------20.25
10:09---------20.27
10:13---------23.86
10:14---------24.53
10:16---------27.65
10:18---------28.54
10:20---------32.63
10:23---------34.33
10:24---------35.88
10:25---------37.11------------3131.19

The 3130 level holds.

10:26---------32.97
10:28---------34.73
10:31---------35.77
10:32---------36.35
10:38---------37.45------------3130.85

10:41---------35.47
10:48---------34.01
10:49---------36.98

10:52---------32.20
10:54---------31.58
10:59---------34.30
11:00---------36.13
11:02---------34.09
11:05---------33.43

11:06---------38.71
11:07---------39.19------------3129.11 (day's low)

The 3130 remained firm and the PSEi moves higher to limit its losses.

11:11----------34.97
11:12----------33.45
11:15----------27.89
11:17----------30.11
11:19----------29.31
11:20----------28.07
11:21----------27.47
11:22----------26.22
11:26----------26.53
11:27----------25.38
11:28----------24.78
11:30----------24.17
11:32----------26.57
11:33----------24.82
11:36----------23.65

PhP 40.987 vs US$ 1.00
Most asian markets remained lower at this point.

11:37----------23.05
11:38----------19.48
11:40----------19.04
11:41----------17.39
11:43----------16.56----------3151.74

The PSEi hurdles the 3150 level and holds above it for the rest of the trading session.

11:45----------14.98
11:46----------12.58
11:47----------11.68----------3156.62

11:49----------13.17
11:51----------11.01
11:52-----------8.25----------3160.05

11:53-----------9.38
11:54----------11.19
11:55----------13.94
11:56----------15.06
11:58----------16.52----------3151.78
12:01----------16.00----------3152.30 (-0.50%)
Market Close.

Advancers 43
Decliners 53

Value turnover: PhP 3.859 bn
Cross transactions: PhP 2.045 bn
Block sales: 84,594,726 shares of MER at PhP 80.91 worth around PhP 6,844,559,280

Sectoral Indices.
Property +1.29%
Financial -0.08%
Industrial -0.09%
Holdings -0.31%
Services -1.59%
M-O -3.01%

The Day's Top gainers:
CDC: PhP 1.52; +46.15%
BCP: PhP 30.00; +42.86%
BRN: PhP 3.90; +30.00%

The Day's Biggest Decliners:
CRC: PhP 15.00; -20.00%
FAF: PhP 0.78; -14.29%
UPM: PhP 0.62; -11.43%

The week that was January 14-18, 2008

------------------Last wk-----This wk-----pts down----pct down
PSEi-------------3,503.70-----3,168.30-----335.40-----9.57%
HOLDINGS-----1,894.51-----1,696.68------198.83-----10.44%
INDUSTRIAL----4,315.38----3,849.53-----465.85-----10.79%
PROPERTY-----1,454.85-----1,294.44------160.41-----11.02%
FINANCIAL-----816.51--------751.79-------64.72-------7.92%
MINING-OIL----8,577.59-----7,662.39-----915.20-----10.66%
ALL SHARES----2,143.07-----1,955.26-----187.81-------8.76%

TOP GAINERS:
1. BCP: PhP21.00;+110.00%
2. CEI: PhP0.08;+45.45%
3. CEU: PhP10.00; +40.85%

BIGGEST DECLINERS:
1. CAT: PhP1.32; -36.54%
2. ZHI: PhP0.32; -36.00%
3. TDY: PhP3.80; -34.48%

LARGEST VALUE TURNOVER:
1. TEL: PhP2,466 mn (close: PhP2,825.00; -3.25%)
2. ALI: PhP973 mn (close: PhP13.50; unch)
3. AC: PhP943 mn (close: PhP447.50; -4.79%)

Year to date Update:
For the year(with just barely three weeks of trading), The Philippine Stock exchange Index (PSEi) is now down 12.5%. It is now at a five month low.
The Dow Jones Industrial Average (DJIA) is off by 8.8& from its 2007 close and is now at 10 month lows.

Trading in WallStreet - January 18,2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary

Index Value: 12,099.30
Trade Time: January 18
Change: down 59.91 (-0.49%)
Prev Close: 12,159.21
Open: 12,159.94
Day's Range: 12022.48 - 12341.54

The 12,000 level holds so far.

The day's market - January 18, 2008

PLDT (TEL) was down $2.27 and closed at $69.67. Converting at PhP41.oo to US$ 1.00, its price comes to around PhP 2856.00
Another freefall in WallStreet induces more selling in the local equities market.

PSEi previous close - 3248.89 (January 17, 2008)

time------------down-----------PSEi
9:31------------51.97---------3196.92

The drop upon the starting bell again leaves another chart gap at the 3239 - 3196 levels. This is the third straight day that a gap is left open.
Advancer 1 Decliners 52

9:32------------72.35
9:33------------80.38---------3168.51

The lower end of the immediate support range of 3171-3217 (the lows last seen on August 29, 2007) was broken. The markets heads to much lower levels.

9:34------------86.56
9:35------------87.01
9:36------------94.53
9:37------------97.31
9:38------------99.04----------3149.85

The next support at 3150 is also breached.
Advancers 2 decliners 71

9:39------------99.53
9:40-----------100.12
9:41-----------103.97
9;43-----------107.99
9:44-----------108.71-----------3140.18
9:45-----------137.79-----------3111.10

TEL trades at PhP 2800 from an initial trade of PhP 2900 and a previous close of PhP 2920.

9:48-----------133.35
9:53-----------137.81------------3111.08 (day's low)
9:58-----------136.32
9:59-----------130.20

After a half hour of panic; the market tries to consolidate and halt its decline.

10:01----------128.37
10:05----------127.21
10:07----------124.37

10:09----------126.75
10:12----------125.81
10:16----------124.80
10:17----------123.27
10:18----------122.90
10:19----------120.18
10:20----------121.59
10:26----------123.44
10:29----------124.94
10:31----------126.97
10:32----------123.81
10:35----------124.61
10:39----------127.33----------3121.56

The market now tries to limit its losses.

10:43----------119.15
10:48----------117.70
10:49----------115.42
10:51----------114.41
10:56----------113.29
10:57----------111.74
11:00----------111.31
11:01----------106.52
11:02----------104.73
11:03----------104.07
11:04----------102.05
11:05----------101.33
11:08----------100.04
11:12-----------98.69-----------3150.20

The Philippine Stock Exchange Index (PSEi) is able to go above the 3150 level once again and the rebound continues.

11:14-----------97.33
11:16-----------95.61
11:17-----------91.19
11:22-----------90.72
11:23-----------88.65
11:25-----------88.50
11:26-----------85.12
11:28-----------84.23
11:30-----------83.64
11:32-----------80.55
11:33-----------79.48
11:38-----------75.49
11:39-----------74.27
11:41-----------72.68

PhP 41.124 vs US$ 1.00

11:42-----------71.61-----------3177.08
11:44-----------74.09
11:48-----------75.90
11:49-----------77.08
11:50-----------78.39
11:51-----------79.15
11:55-----------82.25
11:55-----------79.92
11:56-----------83.42
11:58-----------81.48
11:59-----------81.96
12:01-----------80.59----------3168.30 (-2.48%)
Market Close.

Advancers 23
Decliners 100
PhP 41.118 vs US$ 1.00

The next support is the chart gap left open last August 17-21, 2007 at the 2996-3019 levels. The market is now at new five-month lows.

Value turnover: PhP 4.964 bn
Cross transactions: PhP 2.213 bn

Block Sale: 338 mn shares of BDO at PhP 51.11 or around PhP 17.282 bn

Sectoral Indices:
Holdings -3.84%
M-O -3.76%
Services -2.95%
Property -2.08%
Financial -1.18%
Industrial -1.08%

The Day's Top Gainers:
BCP: PhP 21.00; +50.00%
CEI: PhP 0.08; +45.45%
KEP: PhP 2.00; +17.65%

The Day's Biggest Decliners:
CDC: PhP 1.04; -31.58%
AAA: PhP 0.34; -26.09%
ZHI: PhP 0.32; -15.79%

Trading in WallStreet - January 17, 2008

DOW JONES INDUSTRIAL AVERAGE(DJIA)summary
Index Value: 12,159.21
Trade Time: January 17
Change: Down 306.95 (-2.46%)
Prev Close: 12,466.16
Open: 12,467.05
Day's Range: 12127.51 - 12517.61

The DJIA tried to hurdle the 12500 level in the first half hour of trading. But persistent worries on the US economy had the investors selldown the market. The DJIA closed near its low of 11939.60 touched last March 14, 2007.

The day's market - January 17, 2008

PLDT (TEL) was down by $2.12 at WallStreet. It closed at $71.94 or at around PhP 2920-2930 when converted.
Gold was down by $15.00 to close at $884.50 an ounce.

The actual Philippine Balance of Payments (BOP) in 2007 ended with a surplus of $8.566 bn and more than twice the surplus of $3.769 bn in 2006.

PSEi previous close - 3351.66 (January 16, 2008)

time-----------down-----------PSEi
9:31-----------12.43----------3339.23

The immediate drop today opens another chart gap at the 3350-3339 level.
Advancers 5 Decliners 11

9:32-----------17.95
9:33-----------21.91
9:34-----------22.19
9:35-----------26.54
9:36-----------31.76
9:38-----------32.39----------3319.27
9:40-----------44.24----------3307.42

TEL trades at PhP 2950 from PhP 2985 previously.

9:42-----------44.77
9:43-----------46.33
9:45-----------49.66----------3302.00

9:46-----------60.39----------3291.27

The 3300 level was broken and the PSEi heads lower to test the 3280 level.

9:47-----------61.14
9:50-----------67.35
9:51-----------69.74----------3281.92

9:52-----------73.92----------3277.74
9:54-----------70.38
9:55-----------69.47----------3282.19
9:56-----------71.82
9:59-----------75.75----------3275.91

The market also falls through the 3280 level and declines further to new 4-month lows.

10:01----------76.48
10:02----------77.28
10:03----------78.70
10:05----------81.73
10:06----------82.37-----------3269.29

At this point, other asian equities markets were up.

10:08----------80.89
10:09----------81.99
10:11----------84.71
10:12----------85.05
10:13----------86.76
10:22----------87.82
10:24----------88.97
10:25----------89.23
10:26----------89.68
10:27----------92.39-----------3259.27

10:28----------88.65
10:30----------92.05
10:36----------93.07-----------3258.59

10:40----------90.00
10:43----------91.89
10:44----------99.45
10:47---------101.07-----------3250.59

The Philippine Stock Exchange Index (PSEi) settles at the 3250 level. It consolidates near this level for the rest of the trading session.

10:48---------104.18
10:52---------104.48
10:57---------106.47
11;01---------106.80
11:04---------108.34
11:05---------109.09
11:06---------110.52----------3241.14

PhP 40.963 vs US$ 1.00

11:09---------107.73
11:11---------111.73----------3239.93 (day's low)
11:17---------109.47
11:23---------108.78
11:25---------110.12
11:26---------107.68
11:27---------108.22
11:29---------109.70
11:34---------106.72
11:37---------108.43

PhP 40.978 vs US$ 1.00

11:39---------105.76
11:43---------106.12
11:46---------104.72
11:50---------100.79
11:52---------102.82
11:53---------103.20
11:55---------102.90
11:56---------102.40
11:57---------103.96
11:58---------100.28
11:59----------98.08
12:01---------102.77----------3248.89 (-3.07%)
Market Close.

Advancers 13
Decliners 126

Value turnover: PhP 4.076 bn
Cross transactions: phP 1.330 bn

The PSEi partially closes the chart gap at the 3217-3267 which was left open since August 29-30, 2007. The next support is seen at the 3171 - 3200 level.
Asian markets were down at this point.

Sectoral Indices were again down across-the-board.
M-O -4.99%
Property -4.26%
Holdings -4.07%
Industrial -3.46%
Services -2.03%
Financial -0.52%

The Day's Top Gainers:
BCP: PhP 14.00 ; +40.00%
SLF: PhP 1950.00; +11.43%
KPM: PhP 2.46; +6.96%

The Day's Biggest Decliners:
ZHI: PhP 0.38; -24.00%
TDY: PhP 4.00; -20.00%
BRN: PhP 2.75; -15.38%

Trading in WallStreet - January 16, 2008

DOW JONES INDUSTRIAL AVERAGE(DJIA) summary
Index Value: 12,466.16
Trade Time: Jan 16
Change: Down 34.95 (-0.28%)
Prev Close: 12,501.11
Open: 12,476.81
Day's Range: 12,392.27 - 12,613.13

The DJIA still traded in a wide range of more than 220 points as volatility remains. It was listless at the start and was down more than a hundred points early on. It then recovered and was strong by the mid-afternoon session and was up more than a hundred points. It however went on a steep dive in the final hour or so of trading.

US consumer prices (inflation) rose in 2007 at the fastest pace in 17 years spurred by gasoline and food prices. Consumer prices rose 4.1% for all of 2007, up sharply from 2.5% in 2006. Energy and food prices were up by the largest amount since 1990.

Core inflation (which does not include energy and food) rose 2.4% in 2007, slightly lower than the 2.6% increase in 2006. (It is the performance of core inflation that the Fed closely monitors.)

Some analysts are with the view that the slight drop in core inflation for 2007, together with various reports that suggest that the economy is in the grips of a serious slowdown will convince the US Federal Reserve; that interest rates it should be reduced by an aggressive half-point percentage when officials meet on Jan. 30-31.

The day's market - January 16, 2008

Market comments on yesterday's trading
BusinessWorld - January 16, 2008

DOW JONES INDUSTRIAL AVERAGE(DJIA) summary
Index Value: 12,501.11
Trade Time: Jan 15
Change: Down 277.04 (-2.20%)
Prev Close: 12,606.30
Open: 12,613.78
Day's Range: 12,491.03 - 12,794.57

WallStreet continues to show extreme volatility. The DJIA once again moved within a wide 300 point range. It opened strong and was nearly up 200 points early in the session. It however declined and closed near its low.
The 12500 level is a key support for the DJIA. A breakdown may signal a move to lower levels with 12,000 even a likely target.

The local equities market immediately dropped as investors got rattled by another sudden and huge reversal in the US equities market.

PSEi previous close - 3447.29 (January 15, 2007)

time------------down-----------PSEi
9:31-----------46.45-----------3400.84

The sudden decline upon the starting bell of the trading session left a chart gap opening at the 3446 - 3400 levels.
The 3400 level is tested at once.
Advancers 2 Decliners 38

9:32-----------51.22----------3396.07

The 3400 level does not hold for long and the Philippine Stock Exchange Index (PSEi) heads lower.

9:33-----------55.41
9:34-----------62.17
9:35-----------64.25
9:36-----------66.39----------3380.90

The 3380 level is tested soon thereafter.
PhP 40.733 vs US$ 1.00

9:39-----------72.23 ---------3375.06

The support at the 3380 level also proves to be weak and the market continues its decline.

9:41-----------75.59
9:42-----------76.48
9:43-----------76.71
9:44-----------78.08---------3369.21

9:46-----------73.51---------3373.78
9:49-----------77.98
9:50-----------81.59
9:51-----------83.10
9:53-----------86.13
9:58-----------87.39
10:03----------88.28
10:07----------90.07---------3357.22

The PSEi settles at a level just above the 3350 level.

10:10----------87.08---------3360.21
10:12----------86.77
10:14----------83.40
10:19----------81.76---------3665.53
10:21----------83.82

PhP 40.72 vs $1.00

10:34----------85.00
10:37----------82.00
10:38----------80.45
10:46----------80.17
10:47----------84.02

PhP 40.707 vs US$ 1.00

10:52----------84.72
10:55----------81.73
11:00----------83.97
11:02----------81.95
11:03----------76.35-----------3370.94
11:06----------79.20
11:09----------80.36
11:12----------78.42
11:13----------76.87-----------3370.42
11:14----------77.90
11:15----------83.53
11:19----------84.40

PhP 40.699 VS us $1.00

11:23----------85.61
11:24----------86.28
11:29----------85.60
11:30----------87.14
11:36----------85.63
11:39----------86.69

With the last twenty minutes of trading coming up and a technical bounce not happening; selling pressure once again gripped the market. Investors are still very wary on what happens to WallStreet later on.

11:40----------88.90
11:43----------89.21
11:47----------89.38
11:48----------93.95
11:49----------94.86
11:50----------95.18

11:51----------93.74
11:52----------95.08
11:54----------95.74
11:55----------97.12-----------3350.17 (day's low)
11:59----------94.29
12:01----------95.63-----------3351.66 (-2.77%)
Market Close.

Advancers 17
Decliners 125

Value turnover phP 3.634 bn
Cross transactions: PhP 1.524 bn

The market again closes near its low. Its next support level is seen at the 3280-3300 (4 month lows) levels. The 10 day moving average (3444) is now much lower than the 200 day moving average (3494) and a downward momentum is signalled by the technical indicators.

Sectoral Indices fell across-the-board.
Financial -4.60%
M-O -3.91%
Holdings -3.53%
Industrial -3.43%
Property -2.81%
Services -1.29%

The Day's Top Gainers:
EIBB: PhP 0.37
APR: PhP 3.10; +34.78%
BRN: PhP 3.25; +22.64%

The Day's Biggest Decliners:
JOH: PhP 1.50; -16.67%
MFIN: PhP 2.50; -16.67%
SGI: PhP 0.63; -16.00%

The day's market - January 15, 2008

DOW JONES INDUSTRIAL AVERAGE(DJIA)summary
Index Value: 12,778.15
Trade Time: Jan 14
Change: Up 171.85 (+1.36%)
Prev Close: 12,606.30
Open: 12,613.78
Day's Range: 12613.70 - 12794.57

Gold goes above the $900 an ounce level.
With WallStreet rebounding strongly, the local equities market opened higher as sentiment was positive at the onset.

PSEi previous close - 3482.28 (January 14, 2008)

time-----------change----------PSEi
9:31-----------up 11.84--------3494.12

Advancers 23 Decliners 5

9:32------------up 8.21
9:33---------------8.89
9:34---------------5.19
9:35---------------6.76
9:36---------------7.40

PhP 40.528 vs US$ 1.00

9:38-------------up 8.88
9:41----------------8.29
9:42---------------12.71
9:44---------------15.94--------3498.22
9:45---------------13.22
9:46---------------14.23
9:47---------------16.91--------3499.19 (day's high)

The 3500 level was tested.

9:49------------up 14.05
9:50---------------12.79
9:51----------------6.83
9:52----------------5.04
9:53----------------4.79--------3487.07

9:55----------------7.11
9:56----------------9.08
9:58----------------8.08
10:00---------------4.63

After a half hour of trading and the market failing to sustain its advance; the positive sentiment and momentum built up from the rise in WallStreet has dissipated.

10:01------------up 4.18
10:03---------------2.92
10:03---------------0.99---------3483.27

Advancers 42 Decliners 24

10:04------------up 0.69
10:06----------down 2.79---------3479.49

The Philippine Stock Exchange Index (PSEi) moves into negative territory. As the 3480 level was also broken, the market heads even lower.

10:08----------down 3.57

Asian markets were up at this point.
Advancers 42 decliners 28
PhP 40.523 vs US$ 1.00

10:10--------down 3.94
10:11---------------4.53
10:12---------------7.64
10:14---------------9.19
10:15---------------9.50--------3472.78
10:18---------------7.79
10:20---------------9.27
10:23--------------10.42--------3471.86

10:26---------------9.86
10:29---------------8.01--------3474.27
10:33---------------9.72
10:34--------------10.83
10:36--------------12.38
10:37--------------13.94
10:39--------------14.64
10:40--------------17.09---------3465.19

10:41--------------15.61

Market has totally reversed. The number of losers now outnumbered the gainers.
Advancers 40 Decliners 43

10:45-------down 17.50
10:46--------------19.05
10:48--------------20.65
10:53--------------23.92---------3458.36

10:54--------------22.25
10:59--------------18.39---------3463.89

11:00--------------24.09
11:02--------------24.97
11:06--------------26.09
11:08--------------26.77
11:13--------------27.85---------3454.43

11:14--------------24.61
11:16--------------24.09
11:17--------------25.87
11:21--------------26.41
11:22--------------24.92
11:25--------------26.41
11:26--------------27.00
11:28--------------27.38
11:37--------------28.53
11:39--------------29.38
11:46--------------31.39
11:48--------------33.01---------3449.27

The 3450 level is now tested.

11:49-------down 30.29
11:50--------------30.61
11:52--------------32.87
11:53--------------28.44
11:55--------------27.76
11:57--------------30.46
11:59--------------35.46----------3446.82 (day's low)
12:01--------------34.99----------3447.29 (1.00%)
Market Close.

Advancers 38
Decliners 75

The market closed near its low and momentum may carry the market lower to close the chart gap at 3416-3435 left open last January 9 -10, 2008.

If the PSEi manages to stay and hold above the 3450 level, the initial target resistance is at the 3480-3500 levels.

Value turnover: phP 3.385 bn
Cross transactions: PhP 1.469 bn

Sectoral indices.
M-O +2.28%
Holdings -0.30%
Services -0.84%
Property -1.36%
Financial -1.54%
Industrial -1.62%

The Day's Top Gainers:
CEU: PhP 10.00; +40.85%
BCB: PhP 27.00; +18.68%
BRN: PhP 2.65; +15.22%

The Day's Biggest Decliners:
CAT: PhP 1.32: -36.54%
APR: PhP 2.30; -17.86%
MFIN: PhP 3.00; -11.76%

The Biggest Index Issue Decliners:
FPH: -5.38%
MER: -4.49%
FGEN: -3.70%

The day's market - January 14, 2008

With WallStreet dropping steeply on Friday; sentiment again was down in the local equities market. The Philippine Stock Exchange Index (PSEi) traded lower in a narrow range around the 3480 level.

PSEi previous close - 3503.70 (January 11, 2007)

time------------down-----------PSEi
9:31------------23.54---------3480.16

Advancer 1 Decliners 18

9:32------------27.06

Advancers 5 Decliners 19

9:36------------25.57
9:38------------31.24

PhP 40.597 vs US$ 1.00

9:39------------32.73---------3470.97

Advancers 6 Decliners 24
Value turnover at PhP 67.719 mn

9:40------------34.19
9:41------------34.83
9:44------------35.56

PLDT (TEL) has not yet traded. Previous close is at PhP 3085. Buying at PhP 3020; Selling at PhP 3050.

9:49------------36.71----------3466.99
9:51------------33.79
9:53------------27.49
9:55------------26.00
9:56------------24.40----------3479.30

9:57------------26.26
10:02-----------30.83
10:04-----------32.69
10:05-----------35.56
10:08-----------36.77----------3466.93

PhP 40.589 vs US$ 1.00

10:14-----------35.19
10:16-----------38.85----------3464.85

10:17-----------34.22
10:18-----------49.09----------3454.61

TEL opened at PhP 3035.
Advancers 18 Decliners 53

10:19-----------49.82----------3453.88 day's low

The 3450 level is tested.

10:20-----------45.65
10:21-----------44.17
10:30-----------47.76

Advancers 20 Decliners 59

10:33-----------48.04
10:37-----------44.61

PhP 40.585 vs US$ 1.00

10:43-----------42.98
10:51-----------42.30
10:52-----------39.43
10:56-----------40.56
11:00-----------42.32

11:03-----------37.41
11:05-----------36.19
11:08-----------33.52
11:11-----------34.20
11:19-----------31.28----------3472.42

Advancers 24 Decliners 67
Value turnover at PhP 1.189 bn

11:21-----------34.52
11:24-----------34.65
11:28-----------33.13
11:29-----------30.26----------3473.44
11:36-----------31.22
11:38-----------32.26
11:40-----------33.21

PhP PhP 40.584 vs US$ 1.00

11:43-----------35.78
11:44-----------37.27
11:45-----------38.98----------3564.72

11:47-----------36.96
11:49-----------38.70----------3465.00

11:51-----------36.73
11:54-----------37.77

The market was able to limit its losses in the last minutes of the trading session.

11:55-----------34.45
11:57-----------34.23
11:58-----------30.46
11:59-----------29.62
12:01-----------21.42----------3482.28 (-0.61%) day's high
Market Close.

Advancers 27
Decliners 70

Value turnover: PhP 2.206 bn
Cross transactions: PhP 1.008 bn

Sectoral Indices.
Holdings +0.95%
Financial -0.27%
M-O -0.59%
Property -1.00%
Services -1.15%
Industrial -1.67%

The Day's Top Gainers:
ETON: PhP 3.95; +8.22%
ACR: PhP 0.70; +4.48%
CAC: PhP 1.94; +4.30%

The Day's Biggest Decliners:
CA: PhP 30.00; -16.67%
VVT: PhP 6.10; -11.59%
IS: PhP 0.135; -10.00%

Trading in WallStreet - January 11,2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary

Index Value: 12,606.30
Trade Time: January 11, 2008
Change: down 246.79 (-1.92%)
Prev Close: 12,853.09
Open: 12,850.74
Day's Range: 12543.87 - 12851.14

WallStreet opened lower and just continued its decline as it was down more than 300 points at one point to once again test the 12,500 level.

The day's market - January 11, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA)summary
Index Value: 12,853.09
Trade Time: Jan 10
Change: Up 117.78 (+0.92%)
Prev Close: 12,735.31
Open: 12,733.11
Day's Range: 12,632.15 - 12,931.29
Volume: 325,331,945

The DJIA moved within a huge 300 point range. It was relatively weak in the early part of trading but continued to rise and even came near the key 13000 level late in the day after the US FED Chairman's speech.

Gold prices traded at all-time high levels near $900 an ounce.

Tourism arrivals in the Philippines breached the 3 million mark in 2007. The number of arrivals increased by 8.7% to 3.091 mn from 2.843 mn in 2006. More importantly; tourist expenditures posted a growth of 40.09% to reach $ 4.885 bn, from $2.622 bn in 2006. It also surpassed the $3.782 bn target for 2007.

The local equities market opened with a positive bias and slowly reached key index levels.

PSEi previous close - 3454.60 (January 10, 2008)

time------------up--------------PSEi
9:31----------8.00------------3462.60

Advancers 12 Decliner 1

9:32----------8.43
9:33----------9.11
9:34---------13.87

Advancers 23 Decliners 3

9:35---------18.92------------3473.52

This was yesterday's high and was easily broken.

9:39---------22.93
9:41---------24.81
9:42---------25.49------------3480.09

The lower end of a previous chart gap at the 3480 level was closed. The PSEi now attempts to go above its 200 day moving average (at 3486 yesterday).

9:44---------26.09

PhP 40.609 vs US$ 1.00

9:45---------27.58
9:46---------28.73
9:47---------30.56
9:48---------32.05
9:49---------32.65------------3487.25

The PSEi is now at the level near its 200 day m.a. It moves sideways for the next 10 minutes with the 3480 level as a support.

9:50---------28.90
9:53---------26.57------------3481.17
9:58---------29.28
10:00--------33.73------------3488.38

The market resumes its advance and the 3500 level is the next target.

10:01--------36.64
10:04--------41.71
10:05--------43.61------------3498.21

The PSEi now moves in a narrow range just below the 3500 level.

10:07--------39.21
10:09--------40.06
10:10--------38.54------------3493.14
10:15--------42.39

PhP 40.655 vs US$ 1.00

10:16--------43.19
10:18--------44.69
10:21--------45.51------------3500.11

The market now tries to firm up at the 3500 level.

10:24--------45.25------------3499.85
10:27--------45.92
10:30--------46.51------------3501.11

After hurdling the 3500 level; the PSEi now hovers just above it.

10:31--------47.25------------3501.85
10:33--------51.06
10:37--------51.59
10:40--------54.40------------3509.00

10:42--------50.26
10:45--------49.60
10:45--------47.47------------3502.07

10:52--------49.22

PLDT (TEL) at PhP 3075 from PhP 3050 previously.

10:59--------60.14------------3514,74 (day's high)

TEL at PhP 3090.

11:02--------57.57
11:04--------59.06
11:10--------57.57
11;13--------59.03
11:17--------58.90
11:22--------55.16
11:24--------58.51
11:25--------55.17
11:33--------49.90

The market tried but failed to advance higher for the past half hour. It just consolidated its gains.
PhP 40.597 vs US$ 1.00

11:38--------52.55
11:39--------46.98------------3501.58

The market holds at the 3500 level for the rest of the trading session.

11:40--------45.10------------3499.70
11:42--------45.73
11:43--------47.38------------3501.98
11:44--------44.89------------3499.49
11:47--------46.83
11:49--------45.28
11:50--------46.43
11:51--------45.32
11:54--------45.91
11:55--------45.25
11:56--------45.44
11:57--------44.58------------3499.18
11:58--------48.89------------3503.49
11:59--------45.16
12:01--------49.10------------3503.70(+1.42%)
Market Close.

Advancers 57
Decliners 40

Value turnover: PhP 3.121 bn
Cross transactions: PhP 1.539 bn

The Day's Top Gainers:
JOH: PhP 1.80; +11.11%
KEP: PhP 1.90; +10.47%
GO: PhP 0.27; +8.00%

The Day's Biggest Decliners:
POPI: PhP 0.46; -9.80%
MPI: PhP 4.00; -6.98%
MB: PhP 0.80; -5.88%

Sectoral Indices.
Holdings +2.25%
Property +1.88%
Services +1.15%
M-O +0.76%
Industrial +0.53%
Financial +0.47%

The day's market - January 10, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,735.31
Trade Time: January 9, 2007
Change: Up 146.24 (+1.16%)
Prev Close: 12,589.07
Open: 12,590.21
Day's Range: 12502.33 - 12737.26

The DJIA tested the 12500 level but surged in the last couple of hours of trading to close near its high.
The rebound in WallStreet boosted the day's sentiment in the local equities market.

PSEi previous close - 3416.08 (January 09, 2008)

time-----------up--------------PSEi
9:31---------19.30------------3435.38

The jump at the starting bell opened a chart gap at the 3416-3435 levels.
Advancers 25 Decliner 0

9:32---------21.78
9:34---------23.41
9:35---------24.96
9:36---------28.25

PhP 40.618 vs US$ 1.00

9:37---------30.07

Advancers 41 Decliners 3

9:39---------31.23
9:40---------36.12------------3452.20

The 3450 level is initially tested.

9:42---------31.38------------3447.46
9:43---------32.86
9:44---------33.26
9:45---------31.66
9:48---------34.90------------3450.98

The PSEi manages to break above the 3450 level and continues its advance.

9:49---------36.39
9:51---------37.82
9:53---------39.38
9:57---------40.20
9:58---------43.49
10:00--------46.93
10:02--------49.64

PhP 40.635 vs US$ 1.00

10:04--------50.54
10:09--------51.79
10:13--------56.72
10:17--------57.09------------3473.17

The PSEi falls short in touching its 200 day moving average (m.a) and retreats to consolidate.

10:20--------55.66
10:28--------55.02
10:36--------53.96

PhP 40.646 vs US$ 1.00

10:38--------52.52
10:43--------50.81-------------3466.89
10:44--------53.22
10:48--------54.00
10:57--------50.39-------------3466.47
11:05--------57.36

PhP 40.650 vs US$ 1.00

11:07-------57.60--------------3473.68 (day's high)

Another attempt to continue the day's uptrend falls short. Profit taking tempers the market's gains in the last hour of trading.

11:09-------55.80
11:11-------54.04
11:18-------52.32
11:19-------51.22
11:21-------49.51
11:24-------48.42
11:32-------46.37
11:37-------45.81

PhP 40.635 vs US$ 1.00

11:41-------44.62
11:44-------44.28
11:46-------42.56
11:47-------41.89
11:48-------38.16-------------3454.24

The 3450 level is tested.

11:50-------42.20
11:52-------43.35-------------3459.43
11:53-------38.38
11:54-------35.78
11:55-------34.20-------------3450.28

The 3450 level holds for the day.

11:56-------35.43
11:57-------37.62
11:58-------38.85
11:59-------44.59-------------3460.67
12:01-------38.52-------------3454.60 (+1.13%)
Market Close.

Advancers 62
Decliners 36

Value turnover: PhP 2.862 bn
Cross transactions: PhP 1.085 bn

Sectoral Indices.
Property +1.70%
Holdings +1.42%
Services +1.19%
Industrial +0.35%
Financial +0.20%
M-O -0.01%

The Day's Top Gainers:
APO: PhP 2.22; +7.77%
MVC: PhP 0.70; +7.69%
ASIA: PhP 8.40; +6.33%

The Day's Biggest Decliners:
CDC: PhP 1.50; -15.73%
KEP: PhP 1.72; -13.13%
GO: PhP 0.25; -10.71%

The day's market - January 09, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,589.07
Trade Time: January 8, 2007
Change: Down 238.42 (-1.86%)
Prev Close: 12,827.49
Open: 12,820.90
Day's Range: 12565.49 - 12906.42

The DJIA broke below its low of 12724 last November 26, 2007.

Gold was up by $18.90 to close at $878.20
Philippine Inflation for 2007 was at 2.8%

PSEi previous close - 3420.56 (January 8, 2008)

time-------------down----------PSEi
9:31------------28.14---------3392.42

Advancers 7 Decliners 17
It was expected that the market will be down from the opening bell. It immediately fell through the 3400 level.

9:32------------26.77
9:33------------27.47
9:34------------29.12
9:35------------30.17---------3390.39
9:37------------26.88

Advancers 12 Decliners 38
PhP 40.704 vs the US$ 1.00
Only the Mining and Oil (M-O) sector was up. It was higher by 0.84%.

9:38------------29.70
9:39------------30.23---------3390.33
9:42------------27.07

Advancers 15 Decliners 38

9:44------------25.40
9:50------------25.35

Advancers 22 Decliners 43
Even if the number of decliners was increasing; higher Gold prices had investors paying attention to the mining issues (M-O sector +1.71%) and kept the market afloat.


9:53------------23.24
9:55------------26.08
10:00-----------23.71----------3396.85

After 30 minutes of trading; it was a welcome surprise that the local equities market manages to hold near the 3400 level. It did not experience any panic selling just like the ones observed during the recent steep drops in WallStreet.
Advancers 24 Decliners 46
Value turnover PhP 448 mn
M-O +1.26%
Financial +0.07%
Holdings -0.52%
Services -0.65%
Property -1.14%
Industrial -1.62%

10:01-----------29.93
10:08-----------31.04
10:12-----------32.59--------3387.51

Advancers 23 Decliners 53
PhP 40.693 vs US$ 1.00

10:13-----------33.05
10:16-----------33.50--------3387.06 (day's low)
10:20-----------32.41
10:27-----------30.97

Advancers 21 Decliners 59

10:28-----------32.45
10:30-----------28.31
10:34-----------31.73
10:35-----------28.21

Advancers 23 Decliners 63

10:37-----------27.76
10:45-----------27.35

PhP 40.688 vs US$ 1.00

10:51-----------26.23
10:53-----------23.42
10:54-----------21.99
10:55-----------20.02---------3400.54

The market once again manages to go above the 3400 level. Sentiment has greatly improved by this point and lifts the market a little more.
Advancers 25 Decliners 64
Value turnover PhP 1.33 bn

10:57-----------17.52
10:58-----------15.28
11:00-----------10.80---------3409.76
11:02-----------11.69
11:06------------9.72---------3410.84

Advancers 31 Decliners 60

11:07-----------13.19

PhP 40.681 vs US$ 1.00

11:12-----------11.35
11:20-----------13.25
11:25-----------10.46
11:34------------8.02
11:37------------9.57

PhP 40.671 vs US $ 1.00

11:44-----------12.42
11:50-----------10.11
11:53-----------11.26
11:55------------7.94
11:56-----------12.20
11:57------------8.82
11:58------------6.63
11:59------------5.63
12:01------------4.48--------3416.08 (-0.13%)
Market Close.

Advancers 49
Decliners 53

Value turnover: PhP 3.388 bn
Cross transactions: PhP 1.444 bn

PhP 40.653 vs US$ 1.00

The Philippine Peso is now at levels last seen in the year 2000.

The Philippine Stock Exchange Index (PSEi) was able show its resiliency as it shrugged off the big drop in WallStreet.
The DJIA is currently testing its August 16, 2007 low at 12517 and a break could send it deeper with 12500 as a possible target. It has now lost 962 points since December 26, 2007 (8 trading days).
For the local equities market to rebound; it must be able to maintain its composure should WallStreet continue its fall. It also has to go above its 200 day moving-average (m.a.) at 3485.

Sectoral Indices.
M-O +1.62%
Holdings +0.33%
Financial +0.19%
Property +0.09%
Services -0.88%
Industrial -0.21%

The Day's Top Gainers:
CRC: PhP 19.00; +49.02%
CDC: PhP 1.78; +11.25%
ORE: PhP 3.15; +6.78%

The Day's Biggest Decliners:
MFIN: PhP 3.40; -15.00%
FED: PhP 9.00; -14.29%
ABAB: PhP 0.010; -9.09%

The day's market - January 08, 2008

The Philippine Foreign Exchange Reserves as of December 2007 was at a record high $33.71 bn. The Gross International Reserves (GIR) was 46.5% 0r $10.7 billion higher than the year ago level of only $23 billion.

With WallStreet holding its ground at the 12,800 level, the local equities market also was firm at the 3480 level.

PSEi previous close - 3388.81 (January 07, 2007)

time-------------change----------PSEi
9:31----------down 5.07--------3383.74

Advancers 6 Decliners 4

9:32--------down 0.93
9:33--------------2.41
9:34--------------6.55

Advancers 10 Decliners 4

9:35-------down 8.64---------3380.17 (day's low)
9:38-------------5.06

9:39----------up 0.10

After the initial weakness and test of the 3380 level, the Philippine Stock Exchange Index (PSEi) moves into positive territory and maintains its gains for the rest of the session.

9:41---------up 3.48
9:47------------4.08
9:53------------6.58
9:54------------8.35
9:55-----------11.46---------3400.27

The market now tests the 3400 level.

Advancers 25 Decliners 15
PLDT (TEL) at PhP 3045 from PhP 3000 previously.

9:56-------up 12.56
9:58----------14.11
10:01---------15.31-----------3404.12

Advancers 29 Decliners 19

10:08------up 13.84
10:10---------12.48

PhP 40.925 vs US$ 1.00

10:11------up 12.48
10:11---------14.03
10:15---------11.68
10:17---------10.36----------3399.17
10:20---------12.53----------3401.34

When the 3400 level proves to be firm, the market moves to higher levels.

10:22------up 17.91----------3406.72
10:29---------16.04
10:35---------14.51
10:49---------15.33

PhP 40.904 vs US$ 1.00

10:55------up 15.46
10:57---------17.96
10:59---------19.79
11:00---------20.33
11:02---------22.95
11:05---------25.82
11:06---------28.42

PhP 40.897 vs US$ 1.00

11:12------up 29.58
11:13---------31.10
11:14---------32.10-----------3420.82

11:15---------29.14
11:22---------26.94
11:25---------26.67-----------3415.48

11:26---------27.38
11:29---------21.75-----------3410.56

11:35---------22.73
11:37---------23.60
11:39---------24.27

PhP 40.889 vs US$ 1.00

11:40------up 25.36
11;41---------28.59
11:43---------29.63
11:44---------33.37----------3422.18

11:46---------30.80
11:48---------32.57
11:50---------29.60
11:51---------28.17
11:53---------31.00
11:55---------33.89----------3422.70 (day's high)
11:56---------31.81
11:57---------30.70
11:58---------25.21
11:59---------27.58
12:01---------31.75----------3420.56 (+0.94%)
Market Close.

Advancers 68
Decliners 31

Sectoral Indices.
M-O +1.88%
Industrial +1.78%
Services +1.67%
Property +0.61%
Holdings -0.28%
Financial -0.55%

The Day's Top Gainers:
CRC: PhP 12.75; +50.00%
MK: PhP 2.50; +25.00%
ATRK: PhP 4.00; +14.29%

The Day's Biggest Decliners:
PCKH: PhP 9.00; -10.00%
PHES: PhP 0.32; -8.57%
ETON: PhP 3.35; -6.94%


PSEi MOVERS
Stock----------% up ---------up in PSEi
TEL-----------1.83%----------17.10 pts
SMC----------12.15%-----------8.75 pts
SMCB--------12.15%-----------5.83 pts

Trading in WallStreet - January 07, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,827.49
Trade Time: Jan 7
Change: Up 27.31 (+0.21%)
Prev Close: 12,800.18
Open: 12,801.15
Day's Range: 12,733.84 - 12,884.15
52wk Range: 11,939.60 - 14,198.10
Volume: 306,696,228

The DJIA was in another roller coaster ride as it moved within a 150 point range. The day's bottom tested its recent low at 12724.

The day's market - January 07, 2008

The local equities market again mirrored the large drop in WallStreet. It declined from the opening bell and failed to recover.

PSEi precious close - 3479.37 (January 04, 2007)

time----------down----------PSEi
9:31----------61.47---------3417.90

Advancer 0 Decliners 37
PLDT (TEL) opened at PhP 2995 from PhP 3055 previously.
A large chart gap at the 34719.15-3417.90 levels; was opened because of the immediate fall in the Philippine Stock Exchange Index (PSEi).

9:32----------66.51
9:33----------70.23
9:34----------70.89---------3408.48

Advancers 0 Decliners 47
TEL at PhP 2990. AC at PhP 484 from PhP 505 previously.

9:35----------72.81
9:37----------73.43
9:41----------73.98
9:44----------79.00----------3400.37

The PSEi tries to hold at the 3400 level.

9:45----------80.22----------3399.15
9:47----------80.36
9:48----------75.50----------3403.87
9:51----------79.36
9:56----------81.03----------3398.34

The 3400 level fails to hold and the market heads lower to look for a support.

9:57----------81.26
9:58----------82.59
9:59----------84.82
10:00---------86.23
10:03---------86.61
10:04---------87.06
10:05---------88.21
10:06---------88.87
10:18---------91.17
10:32---------92.82----------3386.55

Advancers 4 Decliners 102

10:40---------94.00
10:41---------94.68
10:42---------96.75
10:44---------97.55----------3381.87

The 3380 is tested as a possible support. The PSEi hovers near this level for the rest of the trading session.

10:46---------91.40----------3387.97
10:47---------95.41
10:50---------96.78
10:52---------96.81
10:54---------99.85
10:56--------100.41----------3378.96

10:57---------98.96
10:59---------97.83
11:02---------91.01----------3388.36

11:12---------95.86
11:14---------97.35----------3382.02
11:16---------91.72----------3387.65

11:18---------92.51
11:26---------97.01
11:31---------97.81----------3381.56
11:35---------92.34----------3387.03

11:36---------98.37
11:37---------98.82
11:40---------99.90----------3379.47

Advancers 6 Decliners 122

11:41--------100.54
11:42--------102.10
11:44--------104.15----------3375.22 (day's low)

11:47---------98.07
11:50---------96.81
11:51---------99.10----------3380.27

11:52---------97.34
11:54---------96.57
11:55---------94.55
11:57---------99.74----------3379.63
11:58---------91.48
11:59---------91.75
12:01---------90.56----------3388.81 (-2.60%)
Market Close.

Advancers 10
Decliners 125

Value turnover: PhP 3.893 bn
Cross transactions: PhP 1.195 bn

The PSEi broke its recent (Dec 18, 2007) low at 3414.52. The next support is at the 3,300-3330 level.
Even with a fast initial drop, the local equities market did not bounce back in the latter part of the trading day because investors are still wary of the performance of the Dow Jones Industrial Average (DJIA) later. The DJIA is now within range of its recent (Nov 26, 2007) low at 12,724. A break of this could bring it lower to 12500.


Sectoral Indices.
Holdings -3.79%
M-O -3.17%
Financial -2.87%
Industrial -2.68%
Property -1.92%
Services -1.92%

The Day's Top Gainers:
KEP: PhP 1.98; +10.00%
LSC: PhP 1.56; +8.33%
CEU: PhP 6.80; +6.25%

The Day's Biggest Decliners:
MVC: PhP 0.60; -29.41%
ATRK: PhP 3.50; -16.67%
DIZ: PhP 6.50; -16.67%

Trading in WallStreet - January 04,2008

DOW JONES INDUSTRIAL AVERAGE(DJIA) summary

Index Value: 12,800.18
Trade Time: Jan 4
Change: down 256.54 (-1.96%)
Prev Close: 13,056.72
Open: 13,046.56
Day's Range: 12789.04 - 13046.72


The Dow Jones Industrial Average (DJIA) immediately fell from the opening bell. Within the first few minutes, it was already down by around a hundred points. It never recovered and dropped well below the 13,000 level. It closed near its low.

The first week of trading 2008 (January 2-4) in the Philippine Stock Exchange (PSE)

FOR January 2-4 ,2007

TOP GAINERS:
1. PHES: PhP0.37; +19.35%
2. CEU: PhP6.40; +16.36%
3. LFM: PhP30.00; +15.38%

BIGGEST DECLINERS:
1. PNC: PhP4.00; -31.03%
2. LSC: PhP1.44; -14.29%
3. ICTV: PhP2.75; -12.70%

LARGEST VALUE TURNOVER:
1. TEL: PhP667 mn (close: PhP3,055.00; -3.78%)
2. AC: PhP496 mn (close: PhP505.00; -10.62%)
3. MEG: PhP420 mn (close: PhP3.60; -4.00%)



SUMMARY OF INDICES
----------------LAST WK------THIS WK-------change-------%CHNG
PSEi-------------3,621.60------3,479.37-----(-142.23)----(-3.92%)
HOLDINGS----2,036.59------1,897.97-----(-138.62)----(-6.80%)
INDUSTRIAL--4,422.22------4,328.05-----(-94.17)-----(-2.13%)
PROPERTY------1,470.57------1,421.74-----(-48.83)-----(-3.32%)
FINANCIAL-------864.37--------838.02-----(-26.35)-----(-3.04%)
MINING-OIL----8,375.10------8,493.91-----(+118.81)----(+1.41%)
ALL SHARES-----2,216.75------2,140.73------(-76.02)----(-3.42%)

The day's market - January 04, 2008

Dow Jones Industrial Average (DJIA) summary
Index Value: 13,056.72
Trade Time: Jan 3
Change: Up 12.76 (+0.10%)
Prev Close: 13,043.96
Open: 13,044.12
Day's Range: 13,023.56 - 13,137.93

WallStreet ended almost flat after going up by nearly a hundred points in midsession and then moving into negative territory to test the 13,000 level near the close.

New York Metal and Oil Report:
Gold - up $8.90 ($864.60/$865.10)
Oil - down $ 0.49 ($99.18)

With the DJIA failing to provide a clear direction; the local equities market consolidated with a downward bias; just below the 3,500 level.

PSEi previous close - 3501.38 (January 03, 2007)

time-------------down----------PSEi
9:31------------8.78-----------3492.60
9:32-----------13.06
9:33-----------10.85

Advancers 15 Decliners 10

9:36-----------10:55

PhP 41.029 vs US$ 1.00

9:38------------8.14
9:42------------7.99
9:44------------7.00-----------3494.38 (day's high)

There is now a chart gap left open here at the 3494-3497 level.

9:50-----------10.30
9:54-----------11.51
9:57-----------14.87
10:00----------18.18----------3483.20

10:01----------17.58
10:04----------14.78
10:10----------16.10
10:14----------17.98

PhP 41.029 vs US$ 1.00

10:18----------20.18
10:19----------18.69
10:20----------14.93
10:28----------13.77
10:35----------11.17----------3490.21

Trading remained lackluster for the rest of the trading session as it continued to move in a narrow range.

10:44----------12.97
10:51----------14.36
11:01----------16.65

11:12----------12.41
11:13----------14.85
11:16----------18.54
11:17----------19.38-----------3482.00

At this point, select thirdliners, especially those in oil exploration activities became active and somehow perked up trading.

11:21----------16.52
11:22----------15.55
11:23----------12.43
11:24----------12.00-----------3489.38

11:25----------13.18
11:27----------16.05
11:28-----------9.64
11:31----------11.84
11:40----------13.04

PhP 41.035 vs US$ 1.00

11:45----------9.98
11:46----------8.42------------3492.96

The market declines a little more in the final 10 minutes of trading as some investors sold positions ahead of the weekend.

11:49---------14.44
11:51---------15.48
11:53---------15.97
11:54---------19.59
11:55---------20.77
11:56---------21.19
11:58---------22.23-----------3479.15 (day's low)
11:59---------21.10
12:01---------22.01-----------3479.37 (-0.63%0
Market Close.

Adavncers 34
Decliners 78

Sectoral Indices
Property -1.60%
Financial -1.10%
Holdings -0.56%
Services -0.40%
Industrial -0.18%
M-O +0.04%

The Day's Top Gainers:
AAA: PhP 0.46; +43.75%
AB: PhP 10.25; +16.48%
PEP: PhP 1.34; +9.84%

The Day's Biggest Decliners:
JOH: PhP 1.62; -10.00%
UNI: PhP 0.27; -10.00%
ABA: PhP 0.01; -9.09%

The day's market - January 03, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary

Index Value: 13,043.96
Trade Time: January 2, 2008
Change: Down 220.86 (-1.67%)
Prev Close: 13,264.82
Open: 13,261.82
Day's Range: 12,991.37 - 13,279.54

The Dow Jones Industrial Average (DJIA) is currently testing the 13,000 support level once again. It has declined more than 500 points already in the past four trading days since December 26, 2007.

New York Metal & Oil report.
Gold + $23.00 - $855.70 / $ 856.20
US Oil + $3.62 - $ 99.62

Gold prise are now at its highest levels since the 1980s.
Oil prices touched the $100 a barrel level.

With WallStreet dropping another 220 points after the more than a hundred point decline previously, the local equities market follows suit.

PSEi previous close - 3617.29 (January 02, 2008)

time------------down----------PSEi
9:31------------20.31--------3596.98

The 3600 level is immediately broken. There is a chart gap opened at the 3616.91 (yesterday's low) to 3596.98 (today's open and high) levels with today's immediate drop.

Advancers 7 Decliners 18

9:32------------23.63
9:33------------32.62

Advancers 10 Decliners 22.
The Mining and Oil (M-O) sector tries to go against the downtrend on back of firmer Gold and Oil prices. It is up by 1.17% at this point.

9:34------------42.50
9:35------------52.59
9:36------------55.19
9:37------------59.45
9:38------------65.96--------3551.33

The PSEi tries to hold at the 3550 level.
PhP 41.310 vs US$ 1.00
Asian markets are down.

9:40------------63.16
9:41------------59.14
9:42------------60.49
9:44------------66.39--------3550.99

9:47------------68.11
9:48------------70.39-------3546.90

9:52------------64.77
9:53------------62.04
9:54------------61.64
9:56------------60.44-------3556.85

9:59------------63.31
10:02-----------67.86
10:03-----------69.52-------3547.77

The 3550 level fails to hold and the market falls to lower levels.

10:06-----------78.61-------3538.68

PhP 41.304 vs US$ 1.00
The chart gap at the 3543-3552 levels left open last December 21/26 is now covered.

10:07-----------81.48
10:08-----------82.08
10:09-----------82.87
10:11-----------84.99
10:12-----------85.79
10:13-----------87.27-------3530.02

Adavncers 20 Decliners 55.
Value turnover is still at PhP 388 mn.
The PSEi declines further.

10:14-----------89.61
10:16-----------94.31
10:18-----------95.56
10:19-----------96.12
10:22-----------96.63--------3520.66
10:23----------100.77--------3516.52

The market has now dropped by a hundred points in only the first hour of trading. A rebound was expected.

10:24-----------96.63
10:25-----------99.11
10:26-----------96.87
10:27-----------98.55
10:28-----------99.38
10:29-----------97.63
10:33-----------97.45
10:36-----------93.65--------3523.50
10:39----------100.25--------3517.04

Advancers 20 Decliners 80
PhP 41.260 vs US$ 1.00
Value turnover was at PhP 795mn

10:41----------100.70
10:42----------101.10
10:43----------103.33
10:46----------103.63
10:48----------102.15
10:49----------104.15
10:53----------105.06
10:55----------106.34
10:57----------107.21
10:59----------107.50--------3509.79
11:01-----------99.75--------3517.74
11:02----------100.64

Advancers 16 Decliners 82
Value turnover at PhP 1.087 bn
With the market still down by a hundred points; and the number of decliners still increasing, an intraday bounce now seemed to be more unlikely.

11:05----------101.38
11:06----------107.08--------3510.21
11:10----------105.22

PhP 41.255 vs US$ 1.00

11:11----------107.95
11:17----------108.48
11:21----------112.77

Advancers 18 Decliners 94
Value turnover PhP 1.30 bn

11:24----------114.26
11:27----------113.81
11:28----------116.68-------3500.61

The 3500 level is now being tested. The PSEi hovers around this level until the end of the trading session.

11:30----------115.64
11:31----------112.92
11:34----------115.64
11:35----------116.68-------3500.61

11:37----------114.78

PhP 41.253 vs US$ 1.00
Asian markets were still down.

11:38----------110.36
11:40----------109.65
11:41----------107.70--------3509.59

11:42----------113.40
11:45----------114.06
11:46----------113.40
11:48----------114.44
11:50----------119.50--------3497.79 (the day's low)

Advancers 13 Decliners 99
There is still a chart gap at the 3491-3497 levels left open last December 20-21, 2007.

11:51----------117.22
11:54----------118.46
11:55----------115.28
11:57----------114.85
11:58----------119.41
11:59----------115.38
12:01----------115.91--------3501.38 (-3.20%)
Market Close.

Advancers 16
Decliners 101

Value turnover: PhP 2.425 bn
Cross transactions: PhP 708 mn

Sectoral Indices.
Holdings -4.18%
Industrial -3.17%
Services -2.93%
Property -2.71%
Financial -1.99%
M-O -0.76%

The Day's Top Gainers:
CEU: PhP 6.40; +16.36%
PHES: PhP 0.37; +12.12%
ABA: PhP 0.011; +10.00%

The Day's Biggest Decliners:
PNC: PhP 4.10; -29.31%
AAA: PhP 0.32; -23.81%
LSC: PhP 1.40; -16.67%

The first day of trading of 2008 in the PSE

The Dow Jones Industrial Average (DJIA) was down 101.05 points last December 31, to end the year 2007 at 13264.82

The Philippine Stock Exchange (PSE) resumed trading activities today. The local equities market however, started the new year with a whimper. With this trading week again cut short to only three days, most investors remained on the sidelines.

PSEi previous close - 3621.60 (December 28, 2007)

time----------change-----------PSEi
9:31---------up 3.99----------3625.59
9:32------------7.03
9:33------------4.32
9:34------------2.61

The PSEi manages to sustain its early gains so far.


9:36--------up 5.97
9:42-----------7.11

PhP 41.110 vs US$ 1.00
The market moves in a narrow range in the next 45 minutes.

9:44--------up 7.42
9:45-----------9.59
9:54-----------9.59
10:02---------13.05
10:08----------6.41
10:19---------11.98
10:21---------13.02-----------3634.62
10:22---------11.87
10:26----------4.60
10:31----------8.89
10:33---------10.83

Value turnover was just at PhP 425 mn.

10:35------up 12.44
10:36---------15.41

The PSEi briefly tries to move to higher levels.

10:37------up 16.29

PhP 41.111 vs US$ 1.00

10:39------up 16.93
10:42---------17.96
10:45---------18.69
10:49---------20.01-----------3541.61 (day's high)
10:50---------19.41

Value turnover was at PhP 506 mn.
Advancers 34 Decliners 36

10:53-----up 19.78
10:54--------16.79
11:01--------18.35-----------3639.95

11:02--------14.20
11:12--------10.99
11:14---------8.80
11:18---------9.75
11:21---------8.71

Value turnover at PhP 630 mn.

11:22-----up 10.70
11:31---------8.25
11:38---------9.30

PhP 41.119 vs US$ 1.00

11:41------up 8.22

The market gives up the day's slight gains.

11:44------up 5.32
11:48---------6.84
11:51---------3.93
11:54---------4.40
11:55---------2.85

The PSEi winds up the first trading day of 2008 in negative territory.

11:56----down 0.59
11:57---------4.61-----------3616.99 (day's low)
11:59---------2.90

Value turnover at PhP 964 mn

12:01---down 4.31-----------3617.29 (-0.12%)
Market Close.

Advancers 57
Decliners 39

Value turnover: PhP 1.103 bn
Cross transactions: PhP 404 mn

Sectoral Indices.
M-O + 2.15%
Industrial + 1.26%
Property +0.98%
Financial +0.03%
Services -0.60%
Holdings -2.19%

The Day's Top Gainers:
LFM : PhP 30.00; +13.58%
APM: PhP 0.016; +14.29%
KEP: PhP 1.80; +12.50%

The Day's Biggest Decliners:
DHC: PhP 13.00; -13.33%
ICTV: PhP 2.75; -12.70%
is: PhP 0.15; -11.76%